ProShares Ultra Silver (NYSEARCA:AGQ) Shares Gap Down – Time to Sell?

ProShares Ultra Silver (NYSEARCA:AGQ) gapped down before the market opened on Wednesday. The stock had previously closed at $64.12, but opened at $58.84. ProShares Ultra Silver shares last traded at $59.04, with a volume of 1,190,452 shares changing hands.

ProShares Ultra Silver Price Performance

The company has a fifty day simple moving average of $76.70 and a two-hundred day simple moving average of $89.95.

Institutional Trading of ProShares Ultra Silver

Hedge funds have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL grew its holdings in ProShares Ultra Silver by 223.0% during the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 617 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 426 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in ProShares Ultra Silver by 15.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,816 shares of the exchange traded fund’s stock valued at $815,000 after purchasing an additional 900 shares during the period. Bullseye Investment Management LLC bought a new stake in shares of ProShares Ultra Silver in the 2nd quarter valued at about $69,000. NewEdge Advisors LLC raised its holdings in shares of ProShares Ultra Silver by 110.3% in the 1st quarter. NewEdge Advisors LLC now owns 2,723 shares of the exchange traded fund’s stock valued at $325,000 after purchasing an additional 1,428 shares in the last quarter. Finally, Sovereign Financial Group Inc. bought a new stake in shares of ProShares Ultra Silver in the 1st quarter valued at about $204,000.

ProShares Ultra Silver Company Profile

ProShares Ultra Silver (the Fund) seeks to provide daily investment results that correspond to twice (200%) the daily performance as measured by the United States dollar fixing price for delivery in London. The Fund will not directly or physically hold the underlying silver, but instead will seek exposure to silver through the use of financial instruments, whose value is based on the underlying price of silver to pursue their investment objective. The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery.